"The disappointment is that Mr. Powell and the Fed ignored the need for larger changes at the central bank."
This and the passage below are from the Wall Street Journal's editorial on Federal Reserve Chair Powell's Jackson Hole speech. Source: WSJ, Mo El Erian on X
Best performing SP500 stocks ytd
Source: Shiny Stocks ⚒️ @shinystocks on X
Chinese stocks are on 🔥
- Turnover nearly 2 trillion yuan in the morning session - CSI 300 within 1% of 2022 high - Technicals signaling short-term overheating. Meanwhile, HSBC lifts China index targets: "We lift our end-2025e target for SHCOMP to 4,000 (from 3,700), CSI300 to 4,600 (from 4,300), and SZCOMP 13,000 (from 11,500) given the abundant liquidity" Source: David Ingles, Bloomberg
For the first time ever
Apple $AAPL is reportedly planning 3 straight years of major iPhone redesigns, according to Bloomberg 2025: The iPhone Air 2026: Foldable iPhone 2027: 20th anniversary iPhone with a curved glass Source: Mario Nawfal
😨 Worried about investing at all-time highs?
History says you shouldn’t be. Since 1989, forward returns after new highs have actually been better than at other times: 1yr: +13.5% vs +11.8% 3yr: +44% vs +39% 5yr: +82% vs +74%. Source: Charlie Bilello
⚠️US government spending is constantly rising
Social benefits now reflect 46% of all US government expenditures, an all-time high, excluding the 2020-2021 crisis. Social Security alone is accounting for 15.4%. This will only rise further as the US population is aging. Source: Global Markets Investor
Is data center capex about to hit an energy wall?
Source: Peter Berezin @PeterBerezinBCA
The German yield curve is steepening.
The gap between 2-year and 30-year bond yields has widened to its highest level since 2019 — driven by growing concerns over a looming surge in German government debt. Source: Bloomberg, HolgerZ
